კონფერენცია

∘ Maya Gogokhia ∘
DERIVATIVES IN THE STRUCTURE OF THE FINANCIAL MARKET

Summary

Modern financial markets are a complex, multi-layered system. The securities market is an integral part of it and along with other segments performs vital functions for the economy. Various countries are paying more and more attention to the development of the securities and derivatives markets.

New financial instruments are constantly being created in the world, the characteristics of which are in demand in economic relations. Among them are circulating instruments on the futures market.

This article discusses the institution of securities at the present stage.The process of issuing and trading derivative financial instruments (options, futures, swaps) is an area of particular interest, the role of which is to reduce uncertainty about future prices. Risk insurance related to business activities is carried out through it. It is available to retail investors and is often the subject of speculation.

Global derivatives markets have grown dramatically over the past two decades.The swaps market is the largest, followed by the futures market. Interest rate derivatives are increasingly traded. Transactions with derivatives are less developed in Georgia, it is necessary to create preconditions for the introduction of the latest trading technologies.

Key words: financial market, securities, options, futures, swaps.

Ivane Javakhishvili Tbilisi State University Paata Gugushvili Institute of Economics International Scientific C O N F E R E N C E S "ECONOMY – XXI CENTURY"

E ISSN 2587 - 4691	∘ Maya Gogokhia ∘ DERIVATIVES IN THE STRUCTURE OF THE FINANCIAL MARKET Summary Modern financial markets are a complex, multi-layered system. The securities market is an integral part of it and along with other segments performs vital functions for the economy. Various countries are paying more and more attention to the development of the securities and derivatives markets. New financial instruments are constantly being created in the world, the characteristics of which are in demand in economic relations. Among them are circulating instruments on the futures market. This article discusses the institution of securities at the present stage.The process of issuing and trading derivative financial instruments (options, futures, swaps) is an area of particular interest, the role of which is to reduce uncertainty about future prices. Risk insurance related to business activities is carried out through it. It is available to retail investors and is often the subject of speculation. Global derivatives markets have grown dramatically over the past two decades.The swaps market is the largest, followed by the futures market. Interest rate derivatives are increasingly traded. Transactions with derivatives are less developed in Georgia, it is necessary to create preconditions for the introduction of the latest trading technologies. *Key words:* financial market, securities, options, futures, swaps.